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for work done by the Authority or the City which are properly chargeable to the acquisition, <br />construction, installation or improvement of the Project. <br />"Acquisition Fund" means the fund by that name established under Section <br />5.01(d) hereof <br />"Additional Bonds" means all revenue bonds of the Authority which are secured <br />by Installment Payments authorized by and at any time Outstanding pursuant hereto and <br />executed, issued and delivered in accordance with Article 4 hereof. <br />"Annual Debt Service" means, for any Fiscal Year, the sum of (1) the interest <br />payable on all Outstanding Bonds in such Fiscal Year, assuming that all Outstanding Serial <br />Bonds are retired as scheduled and that all Outstanding Term Bonds are redeemed or paid from <br />sinking fund payments as scheduled (except to the extent that such interest is to be paid from the <br />proceeds of the sale of any Bonds), (2) the principal amount of all Outstanding Serial Bonds <br />maturing by their terms in such Fiscal Year, and (3) the principal amount of all Outstanding <br />Term Bonds required to be redeemed or paid in such Fiscal Year (together with the redemption <br />premiums, if any, thereon). <br />"Authority" means the Santa Ana Financing Authority, a California joint <br />exercise of powers authority and public entity duly organized and existing under and by virtue of <br />the laws of the State, and its successors or assigns. <br />"Authorized Denominations" means $5,000 and any integral multiple thereof. <br />"Beneficial Owners" means those individuals, partnerships, corporations or other <br />entities for whom the Participants have caused the Depository to hold Book -Entry Bonds. <br />"Board" means the Board of Directors of the Authority. <br />"Bond Counsel" means any attorney at law or film of attorneys, of nationally <br />recognized standing in matters pertaining to the validity of, and exclusion from gross income for <br />federal income tax purposes of interest on, bonds issued by states and political subdivisions and <br />duly admitted to practice law before the highest court of any state of the United States and <br />acceptable to the Authority. <br />"Bonds" means the 2014 Bonds and all Additional Bonds. <br />"Book -Entry Bonds" means any Bonds which are then held in book -entry form <br />by a Securities Depository as provided in Section 2.09. <br />"Business Day" means a day of the year which is not a Saturday or Sunday, or a <br />day on which banking institutions located in California are required or authorized to remain <br />closed, or on which the New York Stock Exchange is closed. If the date for malting any payment <br />or the last date for performance of any act or the exercising of any right, as provided in this <br />Indenture, shall not be a Business Day, such payment may be made or act performed or right <br />exercised on the next succeeding Business Day, with the same force and effect as if done on the <br />55394.00011 \8754149.4 <br />